The company behind a popular car-buying website has pulled plans to float,
offering fresh evidence that the equities market is shutting down as share
prices plunge and skittish investors shun private equity-backed flotations.

BCA Marketplace, the car auction house that runs webuyanycar.com, cancelled
its proposed £1.2 billion stock market listing yesterday despite the
company’s claims that it had been “very encouraged by the broad engagement
and interest” shown by investors.

The company, which is owned by Clayton, Dubilier & Rice, an American
private equity group, said that the “volatility in global equity markets”
meant it had chosen not to proceed.